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Banks and federally chartered trust and loan companies are required to transfer to the Bank of Canada all unclaimed bank balances maintained in Canada in Canadian currency that have been inactive for a period of 10 years.

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Our currency has come a long way. And it’s going even further. The new polymer notes look and feel quite different, but they’re a good change for Canadians. They are highly secure, durable and innovative.

Press Releases

The Bank of Canada today published its 2016 schedule of the key dates for policy interest rate announcements and release of the quarterly Monetary Policy Report, and it reconfirmed the scheduled announcement dates for the remainder of this year.

The Bank of Canada today announced that it is lowering its target for the overnight rate by one-quarter of one percentage point to 1/2 per cent. The Bank Rate is correspondingly 3/4 per cent and the deposit rate is 1/4 per cent.